Oppenheimer Issues Pessimistic Forecast for Intuit (NASDAQ:INTU) Stock Price

Intuit (NASDAQ:INTU) had its target price dropped by equities researchers at Oppenheimer from $722.00 to $642.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the software maker’s stock. Oppenheimer’s price objective suggests a potential upside of 9.36% from the company’s current price.

Several other brokerages also recently commented on INTU. Jefferies Financial Group dropped their target price on shares of Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a research note on Wednesday, February 26th. Piper Sandler restated an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Mizuho boosted their target price on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Finally, Citigroup reduced their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $713.56.

Intuit Trading Up 1.7 %

Shares of NASDAQ:INTU opened at $587.04 on Friday. Intuit has a 1 year low of $532.65 and a 1 year high of $714.78. The firm has a fifty day moving average price of $591.70 and a 200 day moving average price of $617.55. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $164.11 billion, a PE ratio of 56.99, a P/E/G ratio of 2.85 and a beta of 1.25.

Insiders Place Their Bets

In other news, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at $13,401,849.72. The trade was a 27.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,696 shares of company stock worth $14,347,731. Corporate insiders own 2.68% of the company’s stock.

Institutional Trading of Intuit

A number of large investors have recently added to or reduced their stakes in INTU. R Squared Ltd bought a new stake in Intuit in the 4th quarter valued at about $25,000. Copia Wealth Management purchased a new stake in Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC boosted its stake in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares during the period. Summit Securities Group LLC bought a new stake in shares of Intuit during the 4th quarter valued at about $28,000. Finally, Heck Capital Advisors LLC purchased a new position in Intuit in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.